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Jul. 31, 2013, 3:48 AM
- France's Schneider Electric (SBGSF.PK) has agreed to acquire U.K. based Invensys (IVNSF.PK) for £3.4B ($5.2B) in cash and shares.
- Schneider is offering 502 pence a share, or a 14% premium to Invensys' closing price of 440 pence on July 11, before the negotiations between the firms became public.
- The deal provides Schneider with software and control systems used by chemicals makers, oil refineries, and mining companies.
- Expects €400M in annual revenue synergies by 2018, which would increase earnings by €65M in that year. Schneider also forecasts €140M in annual cost savings by 2016, and €80M euros in annual tax savings over the first five years. (PR)
- Schneider H1 net profit €831M vs €876M a year earlier and vs consensus of €837M. (PR)
Jul. 30, 2013, 2:10 PM
- France's Schneider Electric (SBGSF.PK) is nearing a £3.3B (~$5B) deal to acquire British engineer Invensys (IVNSF.PK) and could announce it as soon as tomorrow, Reuters reports.
- The structure of the share-plus-cash deal should remain roughly the same as the one initially presented earlier this month, as no other bidder has emerged to challenge Schneider's bid.
- One source says there's still a 10%-15% chance that a rival bidder such as Emerson (EMR) could come in even after a potential announcement tomorrow.
Jul. 15, 2013, 8:03 AMGE (GE) is reportedly preparing a £3.5B bid for Invensys (IVNSF.PK) after France's Schneider Electric (SBGSF.PK) offered £3.3B for the U.K. industrial-software company last week. An auction could drive up Invensys' share price to 550 pence, valuing it at £3.6B. In the meantime, the firm's shares are +1.5% at 509.50 pence in London. | Comment!
Jul. 12, 2013, 4:14 AMFrance's Schneider Electric (SBGSF.PK) has offered to acquire Britain's Invensys (IVNSF.PK) for £3.3B in cash and stock, or 505 pence a share. Invensys, which makes industrial software and control systems, is likely to recommend the bid and the companies are in talks. The U.K. firm has been a takeover target since the collapse of a deal with Emerson Electric in 2012. The question now is whether other suitors might be tempted to jump back in for Invensys, whose shares are +14.4% at 503.58 pence in London. (PR) | Comment!
Nov. 28, 2012, 12:27 PM
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IVNSF vs. ETF Alternatives
Invensys is a global technology company that works in partnership with a broad range of industrial and commercial customers to design and supply advanced technologies that optimise their operational performance and profitability. The Group is headquartered in London and Invensys shares are... More
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